http://www.politico.com/news/2...ost-tax-cuts-00191006
>>.... GOP lawmakers will have to stipulate how much, if any, of their tax bill is allowed to add to the deficit. And the figure they choose will go a long way toward determining which of the myriad tax cuts under consideration can be accommodated.

Back in 2017, when the existing tax cuts were enacted, it took lawmakers months to settle on how much in total they could spend - $1.5 trillion.

Today, the numbers are all much worse. The price of renewing around 40 provisions set to expire is now estimated to cost some $4 trillion, with another $600 billion in associated interest costs.

At the same time, the federal debt has nearly doubled since 2017, and the increase in interest rates means payments on the debt have become far more onerous. Servicing the debt now costs almost $1 trillion annually...<<

The math is pretty simple. You can't spend more than you take in and you can't keep reducing revenues with tax cuts for the rich while you add TRILLIONS the deficit. The Republicans control everything right now and the party could not be more different now than it was even a decade ago. Deficit hawks are now Trump lap dogs. Tax cuts have definitely not paid for themselves and the rich have gotten richer. We now have a ringside seat for things to get much worse in terms of debt.


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"One of the reasons why propaganda tries to get you to hate government is because it's the one existing institution in which people can participate to some extent and constrain tyrannical unaccountable power." Noam Chomsky.

We need to take some 'hair cuts' everywhere so we can maintain the funding of foreign wars by foreign nations.

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Dora Hates You

There will be no hair cuts everywhere. Entitlements will be in the cross hairs.

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"One of the reasons why propaganda tries to get you to hate government is because it's the one existing institution in which people can participate to some extent and constrain tyrannical unaccountable power." Noam Chomsky.

Well, except for the entitlements for rich. The Rapist party owes a lot of favors for buying the election.

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I distrust those people who know so well what God wants them to do, because I noticed it always coincides with their own desires

Susan B. Anthony
1896

Impeach Trump

Republicans hated spending money on NASA, but have no issue with spending on Spacex.

Next it will be: "It's fine that eggs are five dollars. We are paying more to make America great again!"

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I was right.

Edited: 12/01/2024 at 05:38 AM by Cole

NASA has to be nervous. I am sure Ol' Leon is licking his chops to undermine the authority they have with regulations on SpaceX.

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I distrust those people who know so well what God wants them to do, because I noticed it always coincides with their own desires

Susan B. Anthony
1896

Impeach Trump

Leon spent millions to make billions. His scheme has worked so far.

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"One of the reasons why propaganda tries to get you to hate government is because it's the one existing institution in which people can participate to some extent and constrain tyrannical unaccountable power." Noam Chomsky.